Ethereum is showing fresh signs of weakness after failing to sustain momentum above its critical resistance zone of $4,700โ$4,800. The latest market data reflects a sharp pullback, with ETH trading at $4,261.09 (-6.77%), while ETHUSDT perpetual contracts sit around $4,257.80 (-6.74%).
๐ป Market Structure Breakdown
Resistance Rejection: ETH price was firmly rejected from the $4,700โ$4,800 zone, a major ceiling that has capped bullish rallies.
Bearish Momentum: Market structure signals fading strength, with sellers regaining control.
Entry Zone: Traders are watching the $4,300โ$4,350 range as a short-entry opportunity while ETH remains below resistance.
๐ฏ Bearish Targets in Focus
Target 1: $3,800 (first bearish objective).
Target 2 (Extended): $3,400โ$3,325 (major support zone and possible bottoming area).
Stop-Loss: Any move above $4,765 could invalidate the bearish setup.
๐ Outlook & Strategy
Ethereumโs failure at resistance highlights growing bearish sentiment. Unless bulls reclaim the $4,700 zone with volume confirmation, the trend favors downside continuation.
For traders:
Stay cautious with long positions until ETH reclaims resistance.
Short setups remain favorable below $4,700.
Watch for volatility spikes near support levels at $3,800 and $3,400.
๐ก Bottom Line
Ethereumโs rejection at $4,700โ$4,800 paints a clear bearish picture. With momentum weakening, the road to $3,800 and $3,400 is now open unless bulls stage a strong recovery. For now, the bias remains short-term bearish.